821 59th St Brooklyn, NY 11220-3611

This exceptional redevelopment opportunity presents a partially completed six-story medical condo building situated in the thriving Sunset Park medical corridor of Brooklyn, New York. Located at 821 59th Street, this bank-owned foreclosure property offers 8,600 square feet of space on a 2,000 square foot lot, zoned R6. The structure is currently vacant and features a completed foundation, elevator core, and steel and concrete framing up to the sixth floor, with I-beams in place for roof completion. The building's depth is 100 feet on the second floor. Comparable area medical condos are selling for over $1,100 per square foot, suggesting significant potential for return on investment. Conveniently located just two blocks from the 8th Avenue N/W subway stop, this property offers unparalleled access to public transportation. The 2024/2025 tax assessment is $275,302, with real estate taxes totaling $29,160 for the same period. This is a unique chance to acquire a substantial medical office development project in a high-demand location. The asking price is $3,588,000. The property is classified as Class B, Mixed Use, Office, and Special Purpose. The building is lender-owned and being sold as a bank-owned foreclosure.